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INJ — Injective
A dedicated chain for trading financial products, with no company sitting in between.
What it is for
- Set out to
- A layer 1 for financial applications with an order book in the protocol.
- Today in addition
- EVM alongside CosmWasm, tokenized markets, IBC connections to more than 110 chains.
- Notable
- A weekly auction in which 60 percent of the exchange fees are auctioned against INJ, which is then burned.
- Strength
- Ready-made financial building blocks for developers.
- Weakness
- The burning depends on actual trading volume.
Contract address
Injective — its own chain, no contract.
The asset is the currency of its own chain and does not sit as a token on someone else’s. An empty field here would stand for a missing figure — but nothing is missing.
Score
50of 93
Market capitalization
$537Mas stored
against Bitcoin, 90 days
-9.9%‡not against the dollar
CoinMarketCap
#7226numeric identifier
Where the price stands today between its two endpoints — logarithmic, because orders of magnitude lie in between.
The four cycles
Measured on daily closing prices, never on daily highs or lows. The cycle boundaries are Bitcoin’s own highest and lowest daily closes: January 14, 2015, December 16, 2017, December 15, 2018, November 8, 2021, November 21, 2022, October 6, 2025 and the current low on June 30, 2026. A day counts only if at least ten thousand dollars were traded on it. The price against Bitcoin is given in satoshi — one satoshi is one hundred-millionth of a bitcoin.
| Cycle | Lowest daily close | Highest daily close | Rise low → high | Fall high → low |
|---|
| 2015 to 2017January 14, 2015 to December 16, 2017 | did not yet exist |
| 2018 to 2021December 15, 2018 to November 8, 2021 | existed, but not measurable — reliable exchange days only from September 20, 2022 |
| 2022 to 2025November 21, 2022 to October 6, 2025 | $1.257,570 satDecember 28, 2022 | $51.9572,679 satMarch 12, 2024 | in dollars +$50.70 (+4,049%)against Bitcoin +860.1%from $1.25 on December 28, 2022 to $51.95 on March 12, 2024 | in dollars -$44.99 (-86.6%)against Bitcoin -87.4%from $51.95 on March 12, 2024 to $6.96 on April 8, 2025 |
| Year by year |
| 2022: in dollars -18.7% (from $1.56 to $1.27) · against Bitcoin -22.5% |
| 2023: in dollars +2,697% (from $1.28 to $35.72) · against Bitcoin +998.9% |
| 2024: in dollars -50.8% (from $39.77 to $19.56) · against Bitcoin -76.7% |
| 2025: in dollars -36.3% (from $20.50 to $13.07) · against Bitcoin -51.8% |
| since 2026, ongoingJune 30, 2026 to September 17, 2026 | $4.086,487 satAugust 16, 2026 | $6.408,160 satSeptember 8, 2026 | in dollars +$2.33 (+57.0%)against Bitcoin +25.8%from $4.08 on August 16, 2026 to $6.40 on September 8, 2026 | in dollars -$0.9970 (-15.6%)against Bitcoin -13.0%from $6.40 on September 8, 2026 to $5.40 on September 16, 2026 |
| Year by year |
| 2026: in dollars +25.8% (from $4.55 to $5.72) · against Bitcoin -3.6% |
If the high of a window comes before the low, the rise is calculated from the low to the next interim high within the same window.
The four questions that are always answered
Net supply and issuance pressure8 of 20
Starting valuation and size leverage6 of 14
Survivability8 of 12
Relative strength against Bitcoin4 of 6
the score is calculated from all twelve criteria. What the twelve questions measure and what has been corrected about the measurement is on the method page.
The remaining criteria are not recorded individually for this asset; the total comes from the assessment of August 28, 2026.
The figures in detail
Price, as stored$5.37
against Bitcoin, 7 days+4.2%‡
against Bitcoin, 30 days-7.8%‡
listed on CoinMarketCap sinceSeptember 2020
Age since listing5.9 years
Fees relative to valuation0.900%
Supply still locked0.0%
hard supply capno
Carried by Nexocarried
Trading venues of 15 checkednot collected
‡ The percentages come from a snapshot of August 28, 2026 and are not calculated from daily closing prices. Whether and when they will be recalculated together is decided by the model revision on December 8, 2026.
Finding
The burn auction buys $4.5 million a year
Investors and partners: $57.1 million. Binance Labs, Pantera Capital, Jump Crypto, Mark Cuban, Hashed — awards no points, because projects with large backers did not perform better.
Nexo: Carried by Nexo — purchase page documented on September 1, 2026.
No investment advice, no price forecast, no buy or sell recommendation. A high score does not mean “will rise”. It means the asset scores better on these questions than the others.